It was Kiwbank's turn this week to make headlines with rate changes. Its move is particularly interesting as it has changed the point of attack from the one-year fixed term rate to two years. Also there are no strings attached like minimum equity in the deal.

You can see who has has the best two-year fixed rate here where we have sorted the table from lowest to highest.

Amongst the broker news it looks like the final decision on the ownership of Mike Pero Mortgages is only 10 days away. Half-owner NZF has called a shareholder meeting to decide whether it should sell its stake to its joint venture partner Liberty Financial. As you will read in this story there is no love lost between the two parties and massive differences in the valuation of Mike Pero, which writes around $600 million of mortgages a year.

Yesterday's Budget did little to change interest rates, however S&P has sounded a warning to some of the smaller banks and credit unions.